Long term: towards LM if PM fails as a support

On a yearly basis, Bollinger band spread is not minimal but is increasing. Our 7 / 23 years moving averages are flat. Stochastic and MACD are neutral. UY is a far away resistance.

On a quarterly basis, Bollinger spread is a reference one. A bearish no-crossover is in progress with our MACD. With an overbought status for our stochastic, LQ will be our main target.

 On a monthly basis, the UM / LM spread is above a reference one. TAM tools are on the down side. Below PM, LM is our next objective.

Idea: focus on our quarterly stochastic

Bet: towards LM if PM fails as a support.

R = UM (1.4883);    S= PM (1.3174), LM (1.2319)

 

Medium term: lower but not bearish

On a weekly basis, UW / LW spread is minimal. A PEI is in progress with our MACD and no PEI is in progress with our monthly time frame. As long as MW proves to be a resistance, PM is our main target.

Idea: lower for some periods

Bet: PM will fail as a support.

R = MW (1.4263);     S = PM (1.3174)

 

 

On a daily basis, a type II is in progress.

Idea: use bearish parallels rules

Bet: above 9 periods for LD is likely.

 

R = PD (1.4076);   S = PM (1.3174)

 

Conclusion: bearish parallels pattern on a weekly basis is likely.